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MenuIf I am a Canadian Citizen and also a US Resident, what are the tax implications of selling products online; specifically on Amazon.
I've read stories of people who are US Citizens and send things to Canada with no ties to Canada. And the other way around. But now I'm a Canadian Citizen and USA Permanent Resident looking to sell on Amazon Canada. Also another question, should my bank be in Canadian dollars in Canada? or USD ? Do I even need a Canadian bank account, or should I just have the funds converted back to USD in an american bank? How should I report my earnings ?
Answers
These are all specific questions you need to be taking to a Tax attorney, or accountant.
The laws are varied on all of your issues and need to come from one of the places I just suggestied, and not from a get help site. Good luck
Best to speak with a good Tax Preparer, like H&R Block Executive Tax services.
In general, if you're in the US you pay tax on all your income.
Then since Canada is an OECD (tax treaty nation), you also file your Canadian tax forms + pay any tax difference.
In other words, you won't pay tax twice.
Multi-jurisdictional taxes are tricky. Talk with a preparer + have them do your taxes.
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